With technology at your fingertips, it is foolish not to take advantage of some amazingly easy steps that can guarantee income. If you are a novice or looking into starting an online business of your own and work from home, read on because below are 5 things you can do today to set you off on the path to financial freedom!

1. REGISTER YOUR BUSINESS. This can be done at your local courthouse or online and will cost you less than $20 (depending on the State of course, but regardless, it is very cheap). The actual process takes less than 10 minutes. The courthouse is recommended because the registration has to be notarized and therefore, you can walk out of the building the same day versus waiting for the mail.
Take some time to research the different business structures such as a corporation, LLC, corporate partnership, or sole proprietorship (Doing Business As). This is important because there are different tax rules, liabilities, and fees depending on what business you own. It is also possible to register a business in a state that you do not live in, and some people will do this because of less taxes or because the liability case laws are favorable among other reasons (Delaware for example has favorable case laws for small businesses). If you have a product or service such as a buy-sell-trade type business, then a DBA is preferable. However, if this product can be consumed for example, or of it is related to safety etc., then you must protect yourself from getting sued, and if you don’t have a LLC, then you can be held liable. A Sole Proprietorship (DBA) is easy and inexpensive but again, it has high liability and you do not want to stay here for long. Any assets you own is part of your Sole Proprietorship and for taxes, you will file a form 1040 schedule C on your personal tax return. If you claim a loss for 3 out of 5 years, the IRS will classify your business as a hobby. Research the Hobby Loss Rule.
Be mindful of registering as a Partnership business because if things go sour, the legal process can take long to resolve. Word of advice: Don’t go 50/50 and make sure you have a contract that is reviewed prior to signing. (Note: In some countries like South Korea for example, whoever’s name is on the top of the contract typically wins the legal battle despite a 50/50 contract).
A Limited Partnership (LP) is when general partners have liability and run the business. Limited partners only own what they invest. A Limited Liability Partnership (LLP) is a partnership in which each partner is not responsible or liable for another partner’s misconduct or negligence. A Limited Liability Company (LLC) needs a written operating agreement unless you are the sole employee. This business structure would prevent owners from being personally liable for the company’s debts or liabilities. Limited liability companies are hybrid entities that combine the characteristics of a corporation with those of a partnership or sole proprietorship.
So, please do your research before determining what kind of a business you intend to register because there are pros and cons to everything.

2. UNDERSTAND YOUR MARKET AND COMPETITIVE SPACE. Understanding your target market is critical to your success and this is why you have to engage in some Market Research and Analysis. Google Trends is a good tool. Enter what you are selling; for example, “Abstract Art” and it will populate some demographics and even show you what top States are searching for it. Given this information you can focus your marketing campaigns for that particular product in those key States or areas. You can also set Google Alerts to inform you when a particular article or news update is available so that you can keep up to date with the latest and greatest info about your market. https://quickfacts.census.gov is also a useful tool for retrieving demographics about your local area.
Facebook has an algorithm that directs products you are interested in and displays it on your wall. Use this to your advantage because you can see what local competition is out there and also see what kind of feedback they are getting from the public. Facebook will also Market your product for you at a monthly cost, depending on how many people you want to reach and for how long. If you use the Facebook Marketplace, you have to be careful of the haters because if you are reported as fake or another competitor anonymously spews lies about your product or service, you can potentially be banned from the marketplace. It is always important to ask for reviews from your customers and take good pictures and document your product prior to shipping. The same goes for Ebay, which we will discuss later, but a key difference that FB has over Ebay is that it has Groups. If you are into selling handbags for example, there are numerous groups for that, and any other type of service or product can be found here. BUT! It is within these groups that you may find a snake lying in the grass who just want to kill its competition. Take pictures! Document everything! Also, keep your personal FB and business FB separate.
Ebay is also a mecca for scammers, so do not get complacent and ensure that you authenticate, get insurance, and obtain evidence of your product. Be mindful of buyers who have no purchase history or if you are selling to someone overseas because after your product leaves the States, tracking may fall off. A scam customer can say they never received the package which means that not only you lose the product but also must refund their money. Some scammers will ask for a refund and return the package containing a different product than what you sold, claiming “item not as described”. This is why you should take video or picture evidence of your product in the box prior to shipping. Ebay customer service will drop the case and refund you if you provide evidence and will also remove negative reviews that you prove are not true. However, if you get too many cases against you, or if you cancel too many sales, your account may be shut down. A good thing to look forward to is that if Ebay notices that you are making a lot of sales, they can increase your capacity to list more products, so it is crucial to establish yourself as a trusted seller and always, always, always, ask for reviews. Establishing a loyal customer base is key because returning customers will always speak highly of you and will refer you to all their friends!

Instagram also operates in a similar fashion for sellers or promoters of a business. The concept is simple, hashtag your product with anything and everything related to it and interested people will see it. If they see something they want to purchase, the transaction is made primarily through a pay app or you can link it to your Facebook page as well. Some have made millions on Instagram and you can too!
Buy-Sell-Trade Apps such as LetGo, 5Miles, OfferUp, Mercari, and Carousell are excellent for local buyers and transactions can be made in cash or instant pay. Just be careful when making these transactions in person and use somewhere public, not from your home if you can avoid it. Also, take good pictures of what you are offering. Clear out the background mess and have good lighting. People do not want to inherit anything from you if they see mouse traps or dirty socks on the floor!

3. OUTDOOR PROSPECTING. This technique takes more time out of your day but produces better results because you have the opportunity to meet your potential customers. Although telephonic or email campaigns reach more people per hour, nothing compares to face-to-face. Use this time to place business cards in any retail outlets that let you, and make sure you keep track of how many cards you place down and where you place them because when you visit again you can count how many cards you have left and understand what areas are interested in your business. Use a QR code or weblink on your card to redirect them to your webpage. Also, put flyers that people can tear off your phone number. Place them at community notice boards, information boards, bus/train stops, anywhere that allows you, so that you can also keep track of what areas took interest in calling you. This type of prospecting is where you have to be the most creative but is the most fun because you are self-promoting and people will see your passion versus over the phone or an email. Have some advertising merchandise made like T-shirts, wrist bands, or samples etc., and any time you go out and about, keep track of your mileage and expenses because this too can be claimed on your taxes. Being engaged in the community is good marketing. Inject yourself into situations in which you can bring exposure to your business and take advantage of some positive PR. If you give back to your community or link yourself to a good cause, you will earn positive appeal from the public at large.

4. USE LOCAL RESOURCES. Every State has Small Business development centers that can offer legal advice and recommend professionals. It is important that you build your team and have people that you can rely on to fix or handle business. If you can secure a lawyer, handyman, accountant, etc., then do so. Outsourcing your workload is also an option, and you can find professionals on social network platforms that will do the work at an affordable price. Listing products and item description for example is time consuming but not hard, and so think about how you can best maximize your time and pay someone else to do the easy work while you focus on the next big thing. Take advantage of local events that you can showcase your product or service. Some establishments allow local vendors to set up in the parking lot for a fee or there may be a community center that allows you to use a classroom so that you can give a presentation or host an event yourself. Always request an RSVP for such events and use your social network or local advertising for the event.

5. MONETIZE AND ADAPT. If you are starting a YouTube channel, you must choose the option to monetize. Otherwise, you will not get paid for the views. Remember the guy who did “the evolution of dance”? Over 300 million views and not a penny for it. And review the policy on using copyrighted material, it may be the one thing that disqualifies you from getting paid.

If you have exclusive information or want a more specific crowd, Channel Membership will allow fans to pay a monthly recurring fee for access to custom perks and content and creators and artists who work with any one of YouTube’s many merchandise partners can set up a merch shelf directly under their videos. The merch shelf lets viewers browse and purchase merchandise directly from the watch page.

Generation X is taking this avenue of online entrepreneurship to new levels, while Millennials are still stuck on Facebook. So, it is just as important to grow with technology and pay attention to what is relevant. Brick and Mortar businesses rely on foot traffic and so does the Mall, but in recent years studies show that these establishments are seeing less and less customers because everyone is shifting online where it is more convenient and the exposure is global.